Natural-Gas Prices Soar on U.S. Storage Data

By Anonymous

Total stockpiles now stand at 2.768 trillion cubic feet

Natural-gas prices rose sharply Thursday after data showed a less-than-expected weekly injection of gas into storage that reinforced worries of supply deficits when winter arrives.

Futures for November delivery ended 2.6% higher at $3.0560 a million British thermal units on the New York Mercantile Exchange. Prices have risen seven of the past nine sessions, reaching an eight-month closing high of $3.0820/mmBtu on Tuesday.